Maldives:accelerating sustainable system development using renewable energy project

Abstract

The Government of Maldives has approached the Asian Development Bank (ADB) for financial support to assist in the implementation of the Accelerating Sustainable System Development Using Renewable Energy Project. An initial environmental examination for the proposed Project in Maldives has been carried out in compliance with ADB9s Safeguard Policy Statement (2009) requirements and with reference to national environmental, health and safety requirements and obligations under international agreements. The project aims to support Maldives electricity sector to attain energy security and a sustainable transition. Specifically, the project is expected to (i) increase private sector investments in renewable energy; (ii) de-risk solar independent power producer projects; (iii) increase renewable energy penetration, using emerging technologies and net metering; (iv) strengthen the capacity of the Ministry of Environment, Climate Change and Technology (MOECCT), State Electric Company Limited (STELCO), and FENAKA Corporation Limited (FENAKA); and (v) promote and pilot the use of disaster-resilient, innovative, and gender- and socially inclusive renewable energy-based farming technologies.